EI Power Berhad, a power engineering solutions provider, has announced that its initial public offering (IPO) has been oversubscribed by 30.8 times. This overwhelming interest precedes its listing on the ACE Market of Bursa Malaysia Securities Berhad, scheduled for 21 May 2026. The company, known for its engineering, procurement, construction, and commissioning (EPCC) services, is raising RM62.2m through the IPO to fund expansion plans.
The IPO involves the issuance of 129.5 million new ordinary shares at 48 sen each, representing 18.5% of the company’s enlarged share capital. Additionally, 70 million existing shares are being offered via private placement to selected investors and Bumiputera investors approved by the Ministry of Investment, Trade and Industry. The public portion saw 21,490 applications for 1,111,878,700 shares, with the Bumiputera portion oversubscribed by 15.8 times and the public portion by 45.8 times.
Executive Director and CEO Albert Chang Wan Siong expressed gratitude for the investor confidence, stating, “The proceeds raised will support our expansion plans, enabling us to scale our operations, strengthen our capabilities, and better position us to meet rising demand for power engineering solutions across our key markets.”
The funds will be allocated towards establishing new headquarters, enhancing energy efficiency systems, and expanding into Thailand and Johor. With a market capitalisation of RM336m upon listing, EI Power Berhad aims to leverage its established track record of 146 projects since 2022 to continue serving a diverse range of industries.
